Today's news report that Singapore is technically in recession after 2 consecutive quarters of economic contractions. The Government has revised its 2008 growth forecast to around 3 per cent from a previous estimate of 4 to 5 per cent.

Will Malaysia be next? If so, when will it happen?

SS19flyover

10-10-2008, 12:11 PM

The construction industry is already stuck now, steel has no demand at all in the market. I think the rest of the industry will be slow down too.

AllUrban

10-10-2008, 12:15 PM

It is not a matter of whether it will happen or not.

It will happen. The question is, when will we feel it?

My guess is, before the end of the year...so secure your finances and adjust your investments and prepare so that you can ride it out.

Let's hope that none of the projects in SS15 and SS16 are abandoned this time. There are currently 6 unfinished projects in our community. 2 are very close to being finished, 2 are reasonably close, but the other two have only just begun.

I thought that we were in recession since last year but only creative figures were reported

AllUrban

10-10-2008, 12:23 PM

I thought that we were in recession since last year but only creative figures were reportedI think the cost-push inflation plus the speculation (causing a few more points of growth in the GDP) cancelled out the recession (the decline of growth in the GDP caused by poor fundamentals).

It amounts to the same thing...recession and/or hardship either way...>

life getting tougher

Cheers, m

CS Chua

10-10-2008, 12:57 PM

I guess we have to use the economists' definition of recession i.e. 2 consecutive quarters of economic contractions. Using this definition and anticipating that the 1st and 2nd quarter 2009 may achieve a sub-4% growth, Malaysia will technically be in recession in the 3rd quarter 2009 unless the 3rd and 4th quarter 2008 do badly.

Admittedly there are slow downs in all sectors as industries begin to tighten their belts and consumers slow down their spending. The question is, will there be lots of retrenchments, bankruptcies, house and car repossession like in the 80's? Those years were scary. In fact, if I remember correctly, about 5000 Malaysian families migrated every month to Australia those years. The freight forwarders made so much money packing and moving house items. Will we see a repeat of that?

Mammoth

10-10-2008, 01:31 PM

Don't worry .. our new Finance Minister said we are financially strong. Guess he may be thinking that deficit is good sign. :o

dwch

10-10-2008, 02:12 PM

I
Admittedly there are slow downs in all sectors as industries begin to tighten their belts and consumers slow down their spending. The question is, will there be lots of retrenchments, bankruptcies, house and car repossession like in the 80's? Those years were scary. In fact, if I remember correctly, about 5000 Malaysian families migrated every month to Australia those years. The freight forwarders made so much money packing and moving house items. Will we see a repeat of that?

I think Malaysians are bunch of losers, I sorry to say this. When times get tough many pack their bags leaving the country behind so that they can drain other countries resources. I recalled when Aust was facing a deep severe recession during the 90/91 after the stock market crashed of 1987, many Malaysians left the country in droves. Then back in 97/98 during the Asian financial crises many returned to the country to benefit from our boom. Many ppl complained how bad the situation in Malaysia was at that time, and were afraid of the recession. They then boast, at least they can return to Australia to claim the unemployment benefit.

I'm disgusted to say many do not show any loyalty to the country where ever they go especial when the country faces any crisis. I'm sure this time again many will leave Aust if recession do ever hit us. For sure many now will be leaving NZ to return home, now that NZ is in recession and as well Singapore.

I hope these people will lose their PR for good and never returns. The country certainly do not benefit from losers like these. All these ppl are just taking jobs away from committed citizens who deserves much more.

CS Chua

10-10-2008, 02:17 PM

Stock markets all over the world are having a bloodbath today. I have never seen a stock exchange fell more than 10% in a day, not even in 1997. Looks like the suicide rates will be going up soon.

wyshin88

10-10-2008, 02:31 PM

Stock markets all over the world are having a bloodbath today. I have never seen a stock exchange fell more than 10% in a day, not even in 1997. Looks like the suicide rates will be going up soon.

Or just do what Indonesia do, close the stock market, that way, no one can sell, so no blood bath. Hahaha, very creative eh?

Singapore's Straits Times index fell more than 6.6 percent, and data confirmed one of Asia's richest economies was in a recession.

Well... I be damned... :D Kiasu...now kiasi... sie-lorrr... :eek:

Active Koala

10-10-2008, 02:47 PM

I think Malaysians are bunch of losers, I sorry to say this.. ....

I think this happened to many other countries as well coz the world is now a global village. I know many Singaporean, Hong Kong people also pack their bags and migrate. And looking back at history, it also happened in England long time ago when their economy is no good, where those Englishmen/women went in swarms to America.

You see; it is also written in the Bible as well, where people move from village to village due to famine. As for me, I love Malaysia and have for many many years stick with Malaysia through thick and thin. Ini ialah tanahair saya. I believe the Lord will lead me and He has so far asked me to stay in Malaysia; maybe He has a plan for me here and a plan to bless and prosper Malaysia (if our politicians is willing to turn away from their evil self servings agenda).

CS Chua

10-10-2008, 02:55 PM

I think this happened to many other countries as well coz the world is now a global village. I know many Singaporean, Hong Kong people also pack their bags and migrate. And looking back at history, it also happened in England long time ago when their economy is no good, where those Englishmen/women went in swarms to America.

You see; it is also written in the Bible as well, where people move from village to village due to famine. As for me, I love Malaysia and have for many many years stick with Malaysia
I think this is a very balanced perspective.

Ultimately it is up to each individual. From time to time I received job offers from Australia and USA but I stayed put as I do not sense the Lord leading me to these countries. Recession or no recession, He will see the faithful through good times and bad times.

coogee

10-10-2008, 03:13 PM

I think Malaysians are bunch of losers, I sorry to say this. When times get tough many pack their bags leaving the country behind so that they can drain other countries resources. I recalled when Aust was facing a deep severe recession during the 90/91 after the stock market crashed of 1987, many Malaysians left the country in droves. Then back in 97/98 during the Asian financial crises many returned to the country to benefit from our boom. Many ppl complained how bad the situation in Malaysia was at that time, and were afraid of the recession. They then boast, at least they can return to Australia to claim the unemployment benefit.

I'm disgusted to say many do not show any loyalty to the country where ever they go especial when the country faces any crisis. I'm sure this time again many will leave Aust if recession do ever hit us. For sure many now will be leaving NZ to return home, now that NZ is in recession and as well Singapore.

I hope these people will lose their PR for good and never returns. The country certainly do not benefit from losers like these. All these ppl are just taking jobs away from committed citizens who deserves much more.

I beg to differ, loyalty to a country should not be peg to the economics of earning a living and like Active Koala mentioned, this is a global village and one need to be practical to earn a living esp in hard times. I too left Australia in 1991 when I could not get a job. In regard to PR, well I do not believe the status involved any form of allegiance to the host country and for that matter even if I am a citizen of Australia, and if there are greener pastures elsewhere I am sure the gov of the day will not not brand me as disloyal for going. This is well reflected in the few hundred thousand aussies who are currently living abroad. We all can contribute whether we are onshore or offshore...eventually we all need to 'go home'.

layman

10-10-2008, 03:53 PM

I think Malaysians are bunch of losers, I sorry to say this. When times get tough many pack their bags leaving the country behind so that they can drain other countries resources. I recalled when Aust was facing a deep severe recession during the 90/91 after the stock market crashed of 1987, many Malaysians left the country in droves. Then back in 97/98 during the Asian financial crises many returned to the country to benefit from our boom. Many ppl complained how bad the situation in Malaysia was at that time, and were afraid of the recession. They then boast, at least they can return to Australia to claim the unemployment benefit.

I'm disgusted to say many do not show any loyalty to the country where ever they go especial when the country faces any crisis. I'm sure this time again many will leave Aust if recession do ever hit us. For sure many now will be leaving NZ to return home, now that NZ is in recession and as well Singapore.

I hope these people will lose their PR for good and never returns. The country certainly do not benefit from losers like these. All these ppl are just taking jobs away from committed citizens who deserves much more.

very strange argument!!!!whats wrong with relocating during a recession/vibrant economy.one needs to make a living and provide food on the table,shelter for the family etc.anywhere in the world.if you cant get a job in USA whats wrong with removal to mexico?if singapore/thailand offers a lucrative job to some1 who lives in a 'recession'zone does that mean the fellow who takes up the job is a traitor to his/her country?

we lived in a seamless world where movement of people and goods is taken for granted regardless of nationality and place of abode

whats wrong with migrating or remigrating to greener pastures?

AllUrban

10-10-2008, 06:20 PM

Stock markets all over the world are having a bloodbath today. I have never seen a stock exchange fell more than 10% in a day, not even in 1997. Looks like the suicide rates will be going up soon.Black Monday in October 1987...(wow, was it October? And Black Tuesday in 1929...also the same time of year......) anyways, Black Monday, Toronto Stock Exchange dropped 22% in value...Dow Jones I dont know...but that was a reaalllly bad time.

m was 8 years old...and quite surprised and scared...maybe that is what turned my attention to economics :)

whats wrong with migrating or remigrating to greener pastures?yes, and what is wrong with corporations doing the same...or sports teams :P Or husbands/wives...or forumers (http://www.usj.com.my/bulletin/upload/showthread.php?t=24585) :rolleyes:

Sorry, just having fun on a stressful day...looking forward to Teh tarik this evening :p

Cheers, m

gtl

12-10-2008, 12:37 PM

i think malaysia already in recession, we have been having high inflation, low FDIs, high unemployment and low value of ringgit. the current crisis will even hasten or worsen our current standing.